2023 in Review

New Harbor Capital had a highly productive year in 2023. The year was also a milestone for us, as it marked our 10-year anniversary!  We are proud of all that we have accomplished over three private equity funds, 22 platform investments and 50+ add-ons.  Our brand of private equity focused on true partnership has proven to be differentiated, and we are grateful for all the strong relationships we have developed throughout our journey which form the foundation of our success.

During the past year, we continued to build our Fund III portfolio with two new platform investments, completed numerous add-on acquisitions for our existing investments, and grew our team to further support our investing process.

We continue to be disciplined and highly selective in our research-based approach and are excited about the prospects for 2024.

New Investments

New Harbor expanded its Fund III portfolio with the addition of two new platform investments: Desert Spine and Sports Physicians and Monroe Biomedical Research.

Desert Spine and Sports Physicians is a leading independent Physical Medicine and Rehabilitation (PM&R) group in Phoenix, Arizona. Founded in 2008 by Doctors Brad and Susan Sorosky, the Company is dedicated to the diagnosis, treatment, and prevention of spine, sports and musculoskeletal pain and injury.

Monroe Biomedical Research is a clinical trial site business based out of Monroe, North Carolina. Founded in 2015 by Suvi Gross, Ben Karsai, and Dr. Greg Feldman, the Company recruits diverse patient populations for complex clinical trials across a broad spectrum of therapeutic areas.

We look forward to working with both of their leadership teams in the year ahead as we grow and expand these platforms both organically, and through acquisition.

Portfolio Company Activity

New Harbor’s portfolio companies continued to grow in scale and sophistication throughout 2023. In total, our portfolio companies completed 6 add-on acquisitions across 5 different platforms. Further, our portfolio companies continued to build their teams with 14 executive hires throughout the year.

Team Growth

Our New Harbor team continued to expand, develop, and innovate, as well. In 2023, we welcomed three new Investment team members: Jonathan Gavron, Vice President, Grant Lynn, Associate, and Roshan Babu, Associate. We also welcomed a new Administrative Assistant, Mary Edmond, to our Internal Operations team. Lastly, we promoted Mark Morgan to Chief Financial Officer and Chief Compliance Officer.

Our Executive Advisor team also grew in 2023. We welcomed Marcy Bliss, CEO of Wedgewood Pharmacy, as our 12^th Executive Advisor.

In the News

New Harbor was included in Inc.’s “Founder-Friendly Investor” awards list for the fourth consecutive year, honoring the private equity, venture capital, and debt firms with the best track records of success backing entrepreneurs. We are grateful for this recognition, as this award demonstrates the depth of our dedication to the founders we work with.

We also continued to share our perspectives through our blog, Partnership Perspectives. Read our recent posts here. This blog features many of the philosophies and approaches which form the foundation of our approach.

Community Investments

From the outset, New Harbor has prioritized the success and welfare of those we partner with; it has been the secret of our success.  We also try to live out these values of servant leadership through our Charitable Foundation and team-based serving events throughout the year. In total, the New Harbor Charitable Foundation supported 15 local nonprofit organizations in 2023. We also hosted a winter donation drive to support Chicago’s migrant community through nonprofit partner GAP and their Unity Chicago initiative.

We are honored to have had the opportunity to partner with numerous nonprofit organizations and give back to our shared Chicagoland community.

Volunteer Highlights

We also seek to serve our community in tangible ways beyond just financial aid to foster deeper connections with the organizations we support. With that goal in mind, New Harbor organized quarterly volunteer events with various nonprofit partners in and around Chicago. It is deeply satisfying to serve others and it is an important part of building our culture of servant leadership in the firm.

Activities ranged from hosting a workshop with Year Up students, to organizing food and beverage donations in Breakthrough’s Fresh Market and helping One Tail at a Time organize donations for their Pet Mutual Aid program.